By Sahid Fawaz
The White House says it will use tariffs to address “unfair trade and bad policy” in the steel and aluminum industries.
“President Trump said on Thursday that he will impose stiff and sweeping tariffs on imports of steel and aluminum as he moved to fulfill a key campaign promise to get tough on foreign competitors.
Mr. Trump said he would formally sign the trade measures next week and promised they would be in effect ‘for a long period of time.’ The trade measures would impose tariffs of 25 percent on steel and 10 percent on aluminum. It is unclear whether those would apply to all imports or be targeted toward specific countries.
Mr. Trump summoned more than a dozen executives from the steel and aluminum industry to the White House Thursday morning, raising expectations that he would announce the sweeping tariffs on imported metals that he has often threatened.
The news that the president could announce tariffs Thursday morning initially set off a scramble both outside and inside the White House, where the legal review of the trade measure was not yet complete, people familiar with the preparations said. As late as Thursday morning, White House advisers were still discussing various scenarios for tariff levels and which countries could be included.”
For the rest of the story, check out the full New York Times article here.